Tim Reilly sends this link showing the price of a Samsung Galaxy rising from 7,999 pesos to 11,518 in 6 hours. The collapse suggested in December’s final exam may be at hand. You can look forward to some great vacation deals.
Update: Espen Henriksen sends this picture of Argentina’s massively inverted yield curve. Textbook case of a currency collapsing as the central bank runs out of reserves. (They’re not out yet, but they would be soon if they kept supporting the peso.)
Update 2 (Jan 25): I just ran across an interesting post by Pablo Guidotti and Andy Neumeyer suggesting that reserves are smaller than they look — the central bank has USD liabilities, so net reserves in late December were under 10 billion USD. They’re effectively out. Hence the move today to eliminate some of their foreign exchange controls, which weren’t working well enough anyway.
NYU Stern Economics 